Halozyme’s Subcutaneous Drug Delivery: Analysts Initiate With ‘Buy’ Rating, Say Enhanze Tech Targets $41.7B Market

HC Wainwright has initiated coverage on Halozyme Therapeutics Inc (NASDAQ:HALO) with a Buy rating and a price target of $61, citing the company’s cutting-edge subcutaneous drug delivery platform.

The analysts, Raghuram Selvaraju and Mitchell Kapoor, write that Halozyme’s unique enzyme, rHuPH20 (Enhanze), breaks down hyaluronan in the extracellular matrix of the subcutaneous (SC) area, thus overcoming the obstacles to bulk fluid flow and enhancing the swift and efficient under-the-skin delivery of injectable biologics and small molecules.